European stocks slip at open, before rate calls
London, (MILLAT ONLINE):Europe’s main stock markets slid at the start of trading on Thursday, with investors on tenterhooks before the latest interest rate decisions in Britain and the eurozone.
In initial trade, London’s benchmark FTSE 100 index was down 0.2 percent at 7,481.51 points.
Elsewhere, Frankfurt’s DAX 30 declined 0.1 percent to 13,107.11 points and the Paris CAC 40 also lost 0.1 percent to 5,392 compared with the closing level on Wednesday.
Later on Thursday, at 1200 GMT, the Bank of England (BOE) will announce its latest interest rate call, followed by the European Central Bank (ECB) at 1245 GMT.
The BoE, headed by Mark Carney, is expected to leave its key interest rate at 0.50 percent upon the conclusion of its final monetary policy meeting of the year.
Shortly afterwards, the European Central Bank will also unveil the outcome of its last 2017 gathering, with president Mario Draghi set to avoid talk of further reducing its massive support to the economy.
“Central banking remains the theme of Thursday, with both the BoE and ECB issuing their final interest rate votes of the year,” said Spreadex analyst Connor Campbell.
“Neither Mark Carney nor Mario Draghi are expected to do anything drastic, meaning investors will be more interested in their respective words than actions.”
The US Federal Reserve on Wednesday lifted borrowing costs as expected and said economic growth would be stronger than initially forecast, while inflation would also improve. It also said its projections for three more rate rises next year were on course.